BJ’s Restaurants (NASDAQ:BJRI) Releases Earnings Results, Beats Expectations By $0.06 EPS

BJ’s Restaurants (NASDAQ:BJRI) announced its earnings results on Wednesday. The restaurant operator reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06, FiscalAI reports. The company had revenue of $355.40 million during the quarter, compared to analysts’ expectations of $353.71 million. BJ’s Restaurants had a return on equity of 12.92% and a net margin of 2.23%.

BJ’s Restaurants Stock Performance

Shares of NASDAQ BJRI traded up $0.50 during trading hours on Wednesday, reaching $40.88. The stock had a trading volume of 615,375 shares, compared to its average volume of 332,945. The firm has a 50-day moving average of $42.31 and a 200-day moving average of $36.84. The firm has a market cap of $864.20 million, a price-to-earnings ratio of 30.51, a PEG ratio of 1.28 and a beta of 1.33. The company has a current ratio of 0.36, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. BJ’s Restaurants has a fifty-two week low of $28.46 and a fifty-two week high of $47.02.

BJ’s Restaurants announced that its board has authorized a stock buyback plan on Thursday, October 30th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase up to 11.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

BJRI has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $50.00 target price on shares of BJ’s Restaurants in a research note on Friday, October 31st. Mizuho raised their price objective on shares of BJ’s Restaurants from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Wall Street Zen lowered BJ’s Restaurants from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Barclays raised their price target on BJ’s Restaurants from $30.00 to $39.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Finally, Sanford C. Bernstein reaffirmed an “underweight” rating and set a $30.00 price objective on shares of BJ’s Restaurants in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.83.

Insiders Place Their Bets

In other news, EVP Brian S. Krakower sold 8,017 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $39.61, for a total value of $317,553.37. Following the completion of the sale, the executive vice president directly owned 4,409 shares of the company’s stock, valued at approximately $174,640.49. This represents a 64.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of BJ’s Restaurants

A number of large investors have recently bought and sold shares of BJRI. UBS Group AG grew its stake in shares of BJ’s Restaurants by 576.9% in the 3rd quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator’s stock valued at $44,326,000 after purchasing an additional 1,237,383 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in BJ’s Restaurants by 48.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 935,375 shares of the restaurant operator’s stock valued at $28,557,000 after buying an additional 306,930 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in BJ’s Restaurants in the 2nd quarter valued at $13,380,000. Balyasny Asset Management L.P. acquired a new stake in shares of BJ’s Restaurants in the 4th quarter worth $10,863,000. Finally, Millennium Management LLC boosted its holdings in shares of BJ’s Restaurants by 394.5% in the fourth quarter. Millennium Management LLC now owns 309,269 shares of the restaurant operator’s stock valued at $12,185,000 after acquiring an additional 246,733 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

BJ’s Restaurants Company Profile

BJ’s Restaurants, Inc is a publicly traded casual dining chain known for its deep‐dish pizzas, California‐style thin crust offerings and in‐house craft beer selections. Operating under the BJ’s Restaurant & Brewhouse brand, the company combines a microbrewery concept with full‐service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ’s Restaurants began as BJ’s Chicago Pizzeria, bringing a Chicago‐style pizza experience to the West Coast.